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Business

Exclusive-Ericsson gets new 5G contract from India’s Bharti Airtel, sources say

Published by Uma Rajagopal

Posted on October 15, 2024

Featured image for article about Business

The new contracts are expected to boost Ericsson’s revenue next year after seeing a big fall in contracts from India in the first half of the year.

Sales in Southeast Asia, Oceania, and India had decreased by 44% in the second quarter. Ericsson will announce its third-quarter results on Tuesday.

Much of the deployment is likely to happen next year, according to one source familiar with the matter.

Shares in Ericsson rose as much as 1.8% after the Reuters story.

Global telecom equipment revenue had dropped 16% year-over-year in the second quarter, recording a fourth consecutive quarter of double-digit contractions, according to research firm Dell’Oro.